Public Sector Banks Current Affairs, GK & News

Doorstep Banking Services launched by Public Sector Banks

Finance Minister Nirmala Sitharaman launched the doorstep banking services for public sector banks. This will facilitate the users a hassle-free and convenient banking service. The services provided by the Doorstep Banking can be availed through Agents who has been deployed by the selected Service Providers at 100 centers across the country. These services can be ..

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Rs 68311 Cr. Disbursed under Emergency Credit Line Guarantee Scheme to the MSMEs

As per the data released by the Ministry of Finance, the Private and Public Sector banks in India have disbursed around Rs 68311 Cr. under the Emergency Credit Line Guarantee Scheme to the Micro, Small and Medium Enterprises in the country. As on July 15 2020, the total sanctioned amount under the scheme is Rs ..

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GeM partners with UCO Bank and Bank of Maharashtra

The Government e-Marketplace(GeM) has signed two Memorandum of Understanding(MoUs) with the public sector banks, Bank of Maharashtra and UCO bank on Monday, 16th December 2019. Under the MoU, a number of services including transfer of funds through GeM Pool Account(GPA), Earnest Money Deposit(EMD) and advising of Performance Bank Guarantees(e-PBG) will be provided to the registered ..

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Cabinet approves Partial Credit Guarantee Scheme

Union Cabinet approved the ‘Partial Credit Guarantee Scheme’ that allows public sector banks (PSBs) to purchase high-rated pooled assets from financially sound non-banking finance companies (NBFCs) and housing finance companies (HFCs). However, the amount of overall guarantee has been limited to first loss of up to 10% of fair value of assets (FAV) being purchased ..

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PSBs disbursed Rs 4.91 lakh crore under the Customer Outreach Initiative in October and November 2019

In September 2019, the Union Minister for Finance and Corporate Affairs, Nirmala Sitharaman, announced the launched the Customer Outreach Initiative by the Public Sector Banks (PSBs) of India. The initiative aimed towards providing support to the needs of the economy by improving credit delivery or the credit outflow with a primary focus on NBFCs, MSMEs, ..

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